Apologies for the PDF link. The opinion is amusing, and has some benefits. If it's appealed and this decisions is upheld, the blast zone around the CFAA will be diminished.

The key point is rather simple.

> In doing so, we hold for the first time that, (a) by its text and purpose, the Computer Fraud and Abuse Act, 18 U.S.C. § 1030, does not turn these workplace-policy infractions into federal crimes, and (b) passwords that protect proprietary business information are not themselves trade secrets under federal or Pennsylvania law.

Footnote 2 is also amusing: "To the dismay of IT professionals everywhere, the document was titled "My Passwords.xlsx." App. 2770"